Vascular Biogenics Stock Up 34% In Pre-market Trade After Positive Cancer Drug Trial Results

Vascular Biogenics Ltd. shares rocketed up 32.3% in pre-market trade Monday after the company presented positive phase 1/2 trial results for its ovarian cancer treatment at the annual American Society of Clinical Oncology meeting. The results for the VB-111 drug, which treats patients with recurrent platinum resistant ovarian cancer, were statistically significant, with a median overall survival of 810 days in the drug dose arm compared with 172 days in the low dose arm, the company said. It also said there was a doubling in the response rate for the drug compared with Genentech's Avastin . Vascular Biogenics' stock rose 16.4% over the last three months, compared with a 5.0% rise in the S&P 500 .